Peoples FCU 56th Annual Meeting - Virtual
Peoples Federal Credit Union hosted its first-ever virtual Annual Meeting Friday, March 5, 2021.
Board Chairman Jesse Scott provided an overview of ways Peoples Federal Credit Union faithfully served our members this past year and our diligent efforts to keep our doors open in the midst of a pandemic.
CEO Andy Myers reported on the financial condition and positive growth at Peoples FCU. The credit union had remained incredibly strong during the COVID-19 pandemic with an asset growth of $13 million over the past year reflecting $105 million at year-end.
Over the last three years, Peoples has grown more than $19 million, reflecting a 20% grown rate. Our net income for 2020 was $1,185,000 meeting the expectation of our regulator (achieving over 1% of total assets). This has everything to do with our membership - Thank you for supporting your credit union.
Andy discussed the impact of the U.S. National Debt. He encourages you to visit: www.usdebtclock.org
Nominating Committee Chair Dick Daugherty reported that the two open positions on the Board of Directors have been filled by acclamation by members Mary Lou Thacker (incumbent) and Russell Surface, coming to the credit union after serving in senior level positions in an accounting capacity in local companies. We look forward to their contributions.
All members in attendance will receive a $20 certificate in the mail.